The traditional model exposes the financier to considerable risk and increases the likelihood of disputes. It’s time for a change.
6 Drawbacks of Traditional Invoice Financing
The financier does not have a relationship with the buyer, which exposes the financier to considerable risk.
The seller may issue an invoice for an uncompleted service or a product that doesn’t meet requirements.
The preparation and execution of legal documents is costly and typically involves third-party providers.
The seller and the buyer may conspire to defraud the financier. Or the seller may breach their agreement and request a direct payment.
The buyer may dispute the payment liability and leave the other parties out of pocket, putting their reputations on the line.
The buyer may become insolvent and unable to pay for the invoices, forcing the other parties to suffer the loss of funds.
We’re ushering in a new era of invoice financing by building a decentralised p2p platform where sellers, buyers and investors are connected.
Trust and transparency between all parties is facilitated through permissioned access, verifications and an in-built reward system.
Sellers will be able to obtain financing at lower interest rates than normally received from a traditional financer.
Investors will be granted access to an investment product that is generally only available to banks and finance companies.
Dynamic invoices enable all parties to update invoice information in real time, ensure immutability and manage sensitive information access.
Sellers will have direct access to individual investors. This new distributed peer-to-peer lending environment will benefit both sellers and the investors.
Invoice loans will be fragmented, allowing investors to purchase loans from a larger pool, increase their diversification and reduce their overall risk profile.
Sellers who have invoices they wish to sell to accelerate their cash-flow
Investors seeking higher rates of return and diversification of their investment portfolio
Buyers who will receive extended invoice payment periods and be rewarded for verifying invoices
Tokens with a real-world use case created on the Ethereum network.
Access: Join the platform as a seller by holding Invox Tokens.
Rewards: Get rewarded in Invox Tokens whenever you verify or pay invoices.
Fees: Invox Tokens are used by sellers and investors to pay their respective fees for access.
No new coins will ever be created after the ICO.
Tokens will be distributed 14 days after the token sale ends.
1 ETH = 10,000 INVOX + any bonuses
Take part in the ICO to pre-buy your membership to the platform.
Pre-sale Max Cap
Pre-Sale Minimum Buy
Main Sale Minimum Buy
Incorporated as Invox Finance Pty Ltd
Proof of concept code and testing
V1 of the whitepaper
V1 of the website
Presale sold out
V2 of the whitepaper
V2 of the website
Distribute Invox Tokens
Mockup complete for buyer, seller and investors journeys
First invoice issued on alpha platform
Initial user testing on beta platform
Invox Finance debit cards become available
Mobile application testing
Integration with Celsius
Launch into second region
Mobile application release
Launch into third region
The experts bringing you invoice lending on the blockchain.
Super experienced. Always one step ahead.
Bringing Invox Finance to all Corners of the world.
Mo Works Creative Agency
ICO Marketing Agency located in Melbourne with hands wrapped around the globe.
What is Invoice Financing?
Invoice financing describes the process of a financier purchasing invoices from the seller. Traditionally, the financier agrees to advance money to the seller against each invoice. The buyer who purchased the seller’s products must then pay the invoices directly to the financier.
How will the Invox Finance platform solve the problem?
The Invox Finance platform is a transparent invoicing system that will establish trust between all parties (buyers, sellers, investors and service providers). Instead of the execution of transactions being dependent on the centralised third-party service provider, a distributed ledger will ensure transactions are clearly visible and information is secure.
How does Invox Finance differ from Populous?
Currently, Invox Finance only has one other competitor in the blockchain space. We offer a unique dynamic invoice model and fragmented loan system, ensuring the best possible experience for seller, investor and buyer. Although both projects were founded recently, our team has been working within the invoice financing sector since 2012 and has successfully funded small businesses with over 30 million dollars.
A more detailed comparison of the two projects can be found on page 16 of our whitepaper.
Why do you need the blockchain?
Every player involved in the invoice financing process, including the buyer, seller and investor, benefits from the blockchain. The blockchain reduces the amount of paperwork, back-and-forth communication and related costs, and is the foundation of Invox Finance’s revolutionary dynamic invoice.
Why do you need a token?
Invox tokens are what you will use to access Invox Finance system and perform different actions. Invox tokens are also used to reward platform users in two ways; they reward the buyer on verification and reward the buyer and seller once the invoice has been paid.
What is a dynamic invoice?
If you think about it, invoices have not changed for hundreds of years. How is it that such an important legal contract that is the backbone of business around the globe hasn’t evolved?
Say hello to dynamic invoices. Dynamic invoices exist on a distributed ledger through an Ethereum smart contract. These invoices provide all parties with the ability to update invoice information in realtime, insure immutability and manage sensitive information access.
Who do you charge?
Invox Finance will charge sellers a processing and administration fee equivalent to 1.1% of the face value of each invoice registered on the platform. This is to be paid in Invox Tokens. A large proportion (approx. 91%) of this revenue will be used to reward buyers and sellers for the verification and payment of invoices.
Invox Finance will charge investors a processing and administration fee equivalent to 3.3% of each advance amount. This is to be paid in Invox Tokens. An amount in Invox Tokens equivalent to 0.5% of each advance amount will be placed into the Invox Finance Self-Insurance Fund. The mandate of this fund will be to accumulate and maintain a buffer in Invox Tokens to provide members with self-insurance services and provide funds for debt recovery and enforcement.
Third parties who provide value to the Invox Finance Platform (for example, credit rating agencies) may be charged to use the Invox Finance Platform. Third parties that wish to access the Invox Finance Platform to provide services to its users will be charged accordingly in Invox Tokens.
Will the users of the system need to know anything about blockchain?
No, the user interface on the Invox Finance platform will create a seamless user experience. In particular, the user interface will allow for all payments to be made in fiat currencies by utilising our banking partners’ API. Fiat currencies are legal tender whose value is backed by the government that issued it (i.e. AUD, EUR, GBP, etc)
Do you have any software development done?
Absolutely. Our whitepaper contains the coding for our proof of concept which is the dynamic invoice. We are currently working on the MVP, and have been since 2017, with our solidity programmer.
We’re not only coding the back end but also have UX and UI expertise to ensure the front end is simple and easy to use. We are a motivated and technically equipped team who is always moving forward and ready to hit the ground running as we receive more funds.